Sainsbury's 6% e-saver: when is the right time to move?

bgscotty

Hello!

I'd be grateful for a little advice.

I have £4000 in Sainsbury's e-saver (6%, I think).

It's been there untouched since 5 July 2007.

I don't need instant access to the money and can lock it away somewhere.

Could someone tell me if it would be worth moving into another account (I've used up my ISA this year) and, given any conditions about when interest is paid, when is the most cost effective date to move?


Thank you in advance,

Scotty

bristolleedsfan

bgscotty wrote: »

Hello!

I'd be grateful for a little advice.

I have £4000 in Sainsbury's e-saver (6%, I think).

It's been there untouched since 5 July 2007.

I don't need instant access to the money and can lock it away somewhere.

Could someone tell me if it would be worth moving into another account (I've used up my ISA this year) and, given any conditions about when interest is paid, when is the most cost effective date to move?


Thank you in advance,

Scotty

Most cost effective day to move money around is very early in the week so that u dont lose interest over a weekend.

http://www.moneyfacts.co.uk/savings/bestbuys/default.aspx

tradetime

Could someone tell me if it would be worth moving into another account (I've used up my ISA this year)

If you are sure you are not going to touch it for a while ther are still some good fixed term savings offers around, but, there will be a penalty if you sign up and then want to get the money before the end of the term.